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Stock Valuation Analysis of PT Sinar Mas Agro Resources and Technology Tbk Using Free Cash Flow to The Firm and Relative Valuation Ramiza, Fitradi; Rahadi, Raden Aswin
Devotion : Journal of Research and Community Service Vol. 4 No. 10 (2023): Devotion: Journal of Research and Community Service
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/devotion.v4i10.553

Abstract

Indonesia is the world's top producer and exporter of palm oil, generating 46 million tonnes of crude palm oil. PT SMART Tbk (SMAR) is one of Indonesia's big palm oil companies, with a plantation area of 136,402 hectares. The Indonesian government implemented the B35 biodiesel policy in February 2023, indicating there is potential for growth in the increased use of palm oil as a biodiesel blend. The positive sentiment from the B35 program, which will continue into the B40 program, is expected to boost domestic market demand for biodiesel, consequently impacting SMAR's sales revenue. The study aims to evaluate SMAR's business performance, intrinsic value, and propose solutions to close the value discrepancy gap. The study adopts a quantitative approach for stock valuation calculations and a qualitative approach for underlying assumptions. The analysis covers financial statement analysis, financial ratio analysis, PESTLE analysis, Porter’s five forces analysis, absolute valuation and relative valuation methods. Based on the FCFF analysis, SMAR's intrinsic value is Rp 8,609 while the market price is Rp 5,200, indicating that SMAR is undervalued. The relative valuation analysis using PER, PBV, and EV/EBITDA also indicates that SMAR is undervalued compared to similar companies in the palm oil industry. Overall, this indicates a potential investment opportunity for investors in SMAR shares.
Business Strategy for Sustainable Growth of a Consultant IT Company (Case Study of PT. Mulya, Jakarta, Indonesia) Mulya, Haekal Hanifah; Rahadi, Raden Aswin; Siahaan, Uke Marius
Jurnal Indonesia Sosial Sains Vol. 6 No. 7 (2025): Jurnal Indonesia Sosial Sains
Publisher : CV. Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jiss.v6i7.1743

Abstract

Technology is a key driver of sustainable business practices in the modern digital era, significantly improving operational efficiency and supporting sustainable consumption. The digital transformation of activities such as shopping and information exchange has accelerated technological development globally, including in Indonesia. Government initiatives, such as expanding internet networks, implementing digital payment systems, digitizing population data, and creating smart cities, have provided ample opportunities for the technology sector, including IT consulting firms like PT. Mulya in Jakarta. This research aims to identify the most sustainable and profitable strategic option for PT. Mulya to ensure its long-term growth and resilience amidst growing investor interest. The study adopts both qualitative and quantitative approaches, focusing on financial aspects relevant to sustainable business practices. The analysis includes a financial position audit, company valuation, and financial projections for PT. Mulya. The results offer insights into PT. Mulya's financial standing, providing clarity on the most viable strategic option among four proposed: majority acquisition, minority acquisition, joint cooperation, or rejecting the offer. The findings indicate the potential for PT. Mulya to enhance profitability and ensure sustainability with the right strategy. PT. Mulya can optimize its growth and sustainability by adopting the most suitable strategic option based on the research's findings. The study emphasizes the importance of aligning strategy with long-term financial goals for sustainable success. The study's implications provide valuable guidance for PT. Mulya and other similar firms in making informed strategic decisions that balance profitability with sustainability in a rapidly evolving digital landscape.
REGENERATIVE CITIES: ECONOMIC MODELS AND FINANCIAL STRATEGIES FOR SUSTAINABLE URBAN GROWTH Rahadi, Raden Aswin; Ria, Poeti; Hapsariniaty, Alia Widyarini; Fajar Afgani, Kurnia; Firmansyah Hakam, Dzikri
Tata Kota dan Daerah Vol. 17 No. 2 (2025): Jurnal Tata Kota dan Daerah
Publisher : Department of Urban and Regional Planning, Faculty of Engineering, Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.takoda.2025.017.02.9

Abstract

As urbanization accelerates amidst the escalating climate crisis, the paradigm is shifting from reactive to proactive response through regenerative urbanism. However, while the technical and ecological foundations are standardized, the economic pathways, especially in developing economies, are fragmented. This study bridges that gap by synthesizing foundational theories with recent empirical evidence (2022 – 2025) to construct a cohesive strategic framework for financing regenerative cities. Findings indicate that regenerative urbanism has evolved from a theoretical ideal into a pragmatic economic strategy applicable across diverse urban contexts. By leveraging advanced technological tools—such as AI-assissted spatial analysis and standardized valuation models—cities can now quantify and monetize “hidden” ecosystem services, transforming them into bankable assets that attract global institutional investment. Both external and internal financial instruments, such as Green Bonds and Land Value Capture (LVC), are proven applicable towards diverse urban contexts. Crucially, the research emphasizes on strong alignment between financial innovation and regulatory framework to ensure a successful regenerative urbanism transition. Policymakers must harmonize regulatory frameworks to resolve policy incoherence, ensuring that regenerative initiatives achieve substantive outcomes rather than mere procedural compliance. Ultimately, this study positions regenerative cities not just as ecological necessities, but as competitive, self-sustaining economic hubs for the future.